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News Breaks
February 12, 2013
11:51 EDTVAL, PPGPaint maker Valspar retreats after results miss expectations
Coatings and paint manufacturer Valspar (VAL) is sinking after the company reported lower than expected first quarter earnings per share, or EPS, and lower than expected first quarter revenue. The company explained that international markets were weaker than it had anticipated. Specifically, Valspar said its business in China, Australia, and parts of Europe were weaker than expected. Moreover, Valspar anticipates that its overseas markets will continue to be weak. As a result, it lowered its fiscal 2013 EPS guidance to $3.60-$3.80, from its previous guidance of $3.65-$3.85. Analysts' consensus estimate was $3.79. On a positive note, Valspar reported that its U.S. consumer paints business, boosted by the U.S. housing recovery, generated revenue growth in the mid single percentage digits. Meanwhile, the revenue from Valspar's North American wood business rose in the high single percentage digits. Nevertheless, in late morning trading, Valspar tumbled 7.50%, to $61.92. PPG Industries, which also manufactures coatings, dropped 2.6% to $135.
News For VAL;PPG From The Last 14 Days
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November 26, 2014
09:31 EDTVALValspar downgraded to Hold from Buy at Gabelli
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November 25, 2014
07:46 EDTVALValspar announces $1.5B share repurchase program, 15% dividend increase
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07:32 EDTVALValspar sees FY15 adjusted EPS $4.45-$4.65, consensus $4.76
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07:30 EDTVALValspar reports Q4 EPS $1.38, consensus $1.15
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November 24, 2014
15:20 EDTVALNotable companies reporting before tomorrow's open
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November 13, 2014
15:15 EDTVALValspar acquires Madison Chemical Industries
Valspar announced that it has completed the purchase of Madison Chemical Industries, a coatings manufacturer headquartered in Ontario, Canada. Financial terms of the transaction were not disclosed.

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